ROCKVILLE, Md. & EDMONTON, Alberta — Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) (Aurinia or the Company) today issued the following letter to shareholders in response to a letter from Lucien Selce.
Dear Fellow Shareholders: Aurinia’s Board of Directors and management team have been taking a range of actions to position the Company for sustainable success and build value for shareholders, while staying true to our core focus of delivering therapies to treat targeted patient populations with high unmet medical needs. We believe we have established strong momentum in the business based on recent actions to support our strategy in three key areas: As part of Aurinia’s strategy, the Company is always open to constructive feedback from shareholders, while looking for ways to build shareholder value. However, the recent letter from Lucien Selce lacks substance and many of his ideas and criticisms are not grounded in facts.
The Company believes it is important to set the record straight, and for all Aurinia shareholders to know the following: Aurinia shareholders deserve to have detail about Mr. Selce’s “just trust me” approach. It should be alarming that a mere 10 days before an annual shareholder meeting, a shareholder would put forth a letter that is suspiciously opaque and fails to provide any actionable suggestions or detailed plans for putting Aurinia on a stronger path for growth or any names and backgrounds of who would serve on a Board that would oversee such a .
